Varicose Veins Treatment Market Size & Share, by Product (Ablation Devices, Sclerotherapy Injections); Procedure (Injection Sclerotherapy, Endovenous Ablation, Surgical Ligation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4936
  • Published Date: May 04, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Varicose Veins Treatment Market size is projected to surpass USD 4 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of varicose vein treatment was around USD 1 Billion. The market growth can be attributed to the increasing number of elderly people who are prone to different types of varicose veins. Further, the growing prevalence of R&D activities in the field of compression and newer technologies for the treatment of varicose veins across the globe will add to the market expansion.

Additionally, soaring investments and collaboration between major industry players to discover effective treatments for varicose veins will boost the market demand. For instance, on October 2021, the FDA granted a 510k clearance to VenClose Inc., a privately owned Silicon Valley medical device company focused on innovative treatments for venous reflux diseases through novel catheters of radiofrequency ablation known as MavenRFA that can be minimally invasive in treating hypo perforator vein.


Varicose Veins Treatment Market
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Varicose Vein Treatment Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Varicose Vein Global Burden - Estimates show that 23 % of US adults are affected by varicose veins. The market for treating varicose veins worldwide is being driven by advances in patient compliance through sustainability and security techniques to manage a large burden of varicose vein incidents and better access to medical devices related to this disease.
  • Surging Preference for Minimally Invasive Treatment Procedures — In recent years, minimally invasive surgery has seen a marked increase in demand due to its faster recovery period and less risk compared with other surgical procedures. On January 15, 2022, research was conducted to understand the clinical efficacy of radiofrequency ablation for varicose vein treatment in patients. Results of the researchers predict that intraoperative blood loss was significantly less and clinically effective.

Challenges

  • Shortage of Trained Vascular Surgeons - The increasing concern amongst hospitals and patients associated with the shortage of vascular surgeons and skilled professionals is one of the major factors predicted to slow down the market growth.
  • High Cost of Treatment Procedures
  • Inconsistent Reimbursement Structure

Varicose Veins Treatment Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~9.9%

Base Year Market Size (2022)

~ USD 1 Billion

Forecast Year Market Size (2035)

~ USD 4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Varicose Veins Treatment Segmentation

Product (Ablation Devices, Sclerotherapy Injections)

The ablation devices segment is estimated to dominate 60% of the global varicose veins treatment market share by 2035, attributed to the increasing adoption of laser ablation technology in the treatment pathway. The increased convenience and ease in the use of ablation devices are poised to contribute to the growth of the segment. A research study demonstrated that laser ablating therapy was cost-effective and the preferred first treatment for asymptomatic varicose veins which had a diameter of not less than 3 mm.

Procedure (Injection Sclerotherapy, Endovenous Ablation, Surgical Ligation)

Varicose veins treatment market from the injection sclerotherapy segment is set to grow at a significant CAGR till 2035. The benefits of this treatment, including less bruising and scars, absence of anesthesia, shortened hospital stays, and simpler follow-up procedures are the main reasons why it is dominating the market share. In addition, patients who are receiving injections of sclerotherapy in the U.S. can be covered by Medicare. A number of organizations set up campaigns in support of the awareness and use of different treatments every year.

Our in-depth analysis of the global market includes the following segments:

 

   Product

  • Ablation Devices
  • Sclerotherapy Injections

 

   Procedure

  • Injection Sclerotherapy
  • Endovenous Ablation
  • Surgical Ligation

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Varicose Vein Treatment Industry- Regional Synopsis

North American Market Forecast

North America varicose veins treatment market share of about 34%, is projected to be the largest by the end of 2035. This domination can be attributed majorly to the increasing number of well-developed healthcare systems in the United States. Further, the presence of a large number of key players in the region, enables products to be more widely available on the market.

Moreover, the people of the United States may avail themselves of this treatment at a low cost as a result of favorable reimbursement conditions. The disease burden of varicose veins in the USA is also expected to contribute to the growth of the market. Also, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to opt for easy testing of drugs over a large target population so as to develop efficient treatment options.

APAC Market Statistics

The Asia Pacific market is predicted to register a substantial growth rate through 2035. Due to the large population, the Asia Pacific region offers a lucrative growth opportunity for key players in the market. In addition, the region's expanding healthcare industry and rising innovation and product launches in the field of varicose veins are also anticipated to boost the industry's growth.

Research Nester
Varicose Veins Treatment Market Size
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Companies Dominating the Varicose Vein Treatment Landscape

top-features-companies
    • Candela Medical
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Medtronic PLC
    • Boston Scientific
    • El. En SpA Group
    • Teleflex Incorporated
    • Eufoton SRL
    • Biolitec AG (BioMed Technology Holdings Ltd)
    • AngioDynamics Inc.
    • Alma Lasers Ltd
    • Sciton Inc.

In-the-news

In The News

  • Medtronic has initiated an Investigation Device Exemption study for the assessment of the efficacy and safety of the Abre Venous Self-expanding Stent System intended to treat Deep Lymphocytic Diseases in order to establish its effectiveness and safety. It is likely that this study will be conducted at 35 locations across the United States and Europe, involving about 200 subjects.
  • IVASC, an Italian medical device company, completed a EUR 1.8 million Series A investment in April 2022 for the launch of its VELEX product. VELEX, which received CE Mark in May 2021, is a device that can be used to treat CVI and varicose veins with a procedure called Empty Vein Ablation (EVA).

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4936
  • Published Date: May 04, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are increasing varicose vein global burden, and surging preference for minimally invasive treatment procedures.

The market size of varicose vein treatment is anticipated to attain a CAGR of 9.9% over the forecast period, i.e., 2023-2035.

The major players in the market are Candela Medical, Medtronic PLC, Boston Scientific, El. En SpA Group and others.

The ablation devices segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Varicose Veins Treatment Market Report Scope
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